Offers rolling in on ProLogis space
Orlando Business Journal reports: As many as 80 offers have been made on pieces of the 33.23 million square feet of industrial space that real estate titan ProLogis is now marketing for sale nationwide.
But, the pricing “is all over the map,” according to the real estate investment trust’s chief investment officer.
Antenucci said the REIT expects the pricing to reflect “single-digit” capitalization rates.
Real estate experts say that may be optimistic.
“The fact is no one knows,” said real estate analyst Dan Fasulo, managing director of New York-based Real Capital Analytics. “There is no acquisition financing for something that large. There would be a huge discount. If they wanted to move this today, there is no way it is under a 10 percent cap rate.”
View the full article on Orlando Business Journal: Offers rolling in on ProLogis space
Posted by: Nina Turner